- Core U.S. inflation has been well contained despite sharp rises in energy prices but the Federal Reserve must ensure that price pressures do not get out of control, Fed officials said on Tuesday.
- Bush Tax Panel Says It Will Recommend Simplified Income Tax
- The Bank of Canada raised its benchmark interest rate to 3% and said more increases will be needed to control inflation. Canada's composite index of leading indicators was up 0.3% in September and sales at large retailers were down 0.5% in August.
- U.K. annual rate of consumer-price increases rose to 2.5 percent from August's 2.4%, the fourth straight increase.
- The U.S. Minerals Management Service said that 65% of oil production and 54% of natural gas production in the Gulf of Mexico remains closed.
- The U.S. Treasury said that net foreign purchases of long-term securities totalled $91.3 billion in August, better than expected.
- China could become the world leader in wind power, generating up to 1,000 GW (1m MW), according to a Greenpeace report released in Hong Kong this week.
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